The first wave of import curbs will include items like luxury cars, high-end mobiles, steel, aluminum, electronic items and furniture. Other items added to the list are dry fruits and imported fruits like almonds, and alcoholic beverages.

The Central Board of Indirect Taxes and Customs (CBIC) has doubled import duty to 20 per cent on over 50 textile items - mainly garments - to protect the domestic industry. At least, that is the stated intent.

India may not invite punitive sanctions from the US for its oil dealings with Iran and defence deals with Russia; Directorate General of Trade Remedies has recommended 25% safeguard duty on imported solar cells for 2 years and the trade war between US and China could go up to penal import tariffs on up to $500 billion worth of goods. BusinessToday.In Editor Rajeev Dubey explains this and more on The Good, The Bad and The Ugly.

Despite vociferous protests from solar developers, the Directorate General of Trade Restrictions (DGTR) has finally recommended that a 25 per cent safeguard duty should be imposed on imports of solar cells and modules from China and Malaysia for the first year.